Bentley’s earnings more than double in Sept. 2022

Amid the continuing challenges around the world, Bentley Motors’ profits grew more than double in the full nine months of 2022.

In a statement, the Crewe-headquartered brand announced that its earnings went up to €575 million (approximately P33.043 billion), which is 109-percent more when compared to the same period in 2021. The company noted that its previous best full year total was €389 million (around P22.352 billion).

The British luxury marque said that its year-to-date sales were up three percent to 11,316 luxury cars and revenue rose by 28 percent — from €1.949 billion (roughly P112.019 billion) last year, to €2.49 billion (P143,113 billion) this year.

The vehicle manufacturer attributed the success mainly to the “popularity of new model derivatives and the personalization options available through Bentley Mulliner, the oldest coachbuilder in the world,” which included the GT Mulliner, which was introduced early this year. The aforementioned offering is said to be the “most powerful, fastest, most dynamic and most luxurious Continental GT yet created.”

Further, Bentley also launched the new S range for the GT family and Flying Spur roster. A third customer offering was also announced with the range of Azure models focused on well-being and comfort.

The Bentayga nameplate held the biggest share of Bentley’s sales with 41 percent, followed by the Flying Spur (now with a hybrid offering) with 27 percent. The Continental GT and GTC shared the remaining 32 percent of sales through the help of the new, performance-orientated GT Speed.

Moreover, Bentley sales improved by 18 percent in Europe, selling 2,133 units in the first nine months of 2022. The Asia-Pacific region also saw double digit growth of 17 percent. The United States continues to show the strongest sales region overall, thanks to its 3,154-car rollout to customers (which reflected a seven percent increase).

The company is aiming for a strong performance until the end of the year with the help of the Bentley Bentayga Extended Wheelbase (EWB). So far, the brand's latest variation of the luxury flagship sport utility vehicle accounted for roughly 40 percent of Bentayga orders since its unveiling. 

According to Bentley, the strong sales thrust continues to support its Beyond100 strategy as it eyes to have its entire product range to support an electrified future by 2030. The goal includes a €3 billion (about P172,779 billion), 10-year investment program.

“While Bentley continues to tackle the challenges it faces in the global market, this latest set of financial figures shows strong results in most regions,” Bentley Motors Chairman and Chief Executive Officer (CEO) Adrian Hallmark was quoted as saying.

“The continued growth in revenue per car supports the options and limited-edition models created by Bentley’s in-house coachbuilder Mulliner and the positive customer reception to our increasing range of model derivatives. Furthermore, the launch of the new Bentayga Extended Wheelbase model is expected to further boost sales of Bentley’s luxury SUV,” the company CEO added.

Photos from Bentley

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